Connells has best sales week in over two years
06 May 2010
Growing confidence in the housing market is translating into increased sales, according to estate agent Connells.
The Connells Group recorded its most successful week for sales in over two years at the end of April as buyers responded to improving market conditions and greater options in terms of mortgage finance.
The news comes hot on the heels of announcements from both Rightmove and Nationwide of rising house prices and the failure of the Election to dampen the spirits of would-be buyers.
“In the first four months of 2010 we’ve seen a continuation of the housing market recovery which we experienced throughout 2009,” says Connells Chief Executive, Stuart Flavell. “It’s clear that people are fed up of putting their lives on hold; they want to move home in 2010 whether they are buying for the first time or simply moving home.”
Increased buyer activity is having an impact on the number of properties being placed on the market as sellers take advantage of greater levels of interest. Indeed, comparing April 2009 to last month, Connells average stock per branch has gone up by 12 per cent and instructions have gone up by 26 per cent.
“The fact that both house prices and sales have increased at a time when we have a greater supply of houses on the market discredits economists who say the only reason prices increase is because of a lack of supply,” Stuart continues. “Connells sales at the end of April show there are many more factors involved in predicting house market activity and the desire to buy and own a property, especially in the UK market, cannot be disregarded.”
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Notes to editors
Connells Residential is an appointed representative of Connells Limited who are authorised by the Financial Services Authority for the advising and recommending of regulated mortgage contracts and general insurance contracts. Your home may be repossessed if you do not keep up repayments on your mortgage.
About the Connells Group:
Founded in 1936, the Connells Group, a subsidiary of the Skipton Building Society, comprises 470 estate agency branches and is the second largest wholly owned estate agency network in the UK. In addition to operating under the Connells brand, which comprises around 150 branches, the Group trades under other well-known local names including William H Brown, Sharman Quinney, Fox & Sons and Barnard Marcus.
As well as residential property sales the Group is involved in a comprehensive range of housing related activities including land and new homes, lettings, surveying, mortgages, conveyancing, relocations, asset management and auctions.
The Connells Group has been named Best Large Estate Agency at the Estate Agency of the Year awards for four of the past six years. For more information, please visit www.connells.co.uk